Northridge Accounting Firm Brings Customized Services to Businesses

Accounting skills do not necessarily go hand-in-hand with business ownership. Although they are one of the last things many people think about when they start a business, they have the biggest impact on whether a business flourishes or not. That’s why it’s so important to hire an accountancy firm that has worked with businesses of all sizes in a variety of industries and tracks clients’ goals and outcomes.

Mark S. Freedman, CPA, Inc. helps you maintain your current profitability and capitalize on new business opportunities. The San Fernando Valley-based accounting firm works with you behind-the-scenes to ensure that each step you take brings you closer to your goals. We provide accurate record-keeping and reporting, as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.

We offer numerous accountancy services including, but not limited to:

• General ledger and financial statement preparation
• Bookkeeping (monthly, quarterly or annually depending on your business’s needs)
• Accounting system setup and support
• Payroll processing
• Personal financial statements
• Corporate tax planning and return preparation

The U.S. Tax Code with its approximately 2500 pages and 5.6 million words is not easily decipherable, and can give even the best CPA a blinding headache. At Mark S. Freedman, CPA, Inc., you receive a full range of tax management services, as well as advice on how to optimize financial opportunities using existing and recently adopted tax laws, including tax credits, business investment incentives, and changes in payroll tax and reporting rules for 1099s. Our team will help you create custom strategies that minimize your tax liabilities while maximizing your cash flow, so that you stay on track with your financial goals. In addition, we help you make sense of your business receipts, such as what is deductible and what is not. Our team will assist you with vendor’s bills and agency notices, and show you how these pieces of the tax puzzle fit together as part of your business strategy.

Financial reviews and advice can be a slippery road for accountancy firms who don’t take the time to understand their client’s business and their goals for the future. At Mark S. Freedman, CPA, Inc., we recognize that businesses are often as intricate as a jigsaw puzzle, with multiple pieces that need to fit precisely together to function properly.

Our focus is zeroed in on building close client relationships that add long-term value. We listen to what you tell us and do our research so that we can absorb as much information as possible about your business, your life and your dreams. This includes assuring the solidity of your financial records, evaluating your company’s financial procedures and working to produce strategies that help you face the myriad of challenges involved in business planning and execution.

Over the years, we have helped clients control costs, increase efficiency and productivity, and implement new technologies and procedures that take advantage of changes in the marketplace, accounting standards and tax law.

We offer a variety of Assurance and Advisory Services including, but not limited to:

• Compilations and Reviews
• Accounting Software Selection, Implementation and Support
• Entity Selection and Restructuring
• Business Valuations
• Debt and Finance Advising
• Mergers and Acquisitions
• Transaction Structuring and Negotiations
• Business Succession

Mark S. Freedman, CPA, Inc.'s financial statement services comprise many levels of assurance depending on your company's needs, from basic financial compilations to reviews of your financial statements.

• Compilations: Starting with the Basics
  Compilations are usually requested by our clients purely for internal purposes when they want raw data complied into financial statements. This information is not reviewed or audited and is not an assurance that your accounting records are accurate. It is just a way to view your financials in an orderly manner. We work with you to compile your data. Once this is complete, you can request further services, which we will happily supply.

• Financial Data Reviews
  Reviews provide limited assurance to you as well as outside parties that your financial data conforms with your financial reporting. It confirms to some degree the integrity of your data. Reviews do not include any activities that may be performed during an audit, such as testing accounting records, assessing fraud risk, etc.
  
  During a review, our team at Mark S. Freedman, CPA, Inc. will use analytical procedures to determine the validity of the data and identify any areas that may require further analysis. We perform reviews to ensure the integrity of your business data.

• IRS Representation
  Professional representation can be vital during an IRS audit. Our team has had years of experience with state and federal tax authorities, enabling us to guide clients in their dealings with these government agencies. No one wants to be audited, but if and when it does occur, you can count on our team to provide professional representation to you and your business. Don’t wait for an audit. If you have questions, contact us and we’ll be more than happy to assist you.

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. It can also be a valuable accounting and reporting software tool in the collection and preparation of information for your accountant--if, and only if--you purchase the correct version of the product, set it up properly and use it effectively.

Mark S. Freedman, CPA, Inc. advises you on which version of the software best fits your business needs, helps set it up and trains you and your staff in how to use the software most efficiently and effectively.

We offer a four-step solution to QuickBooks needs:

1. Installation. MSF makes QuickBooks installation as easy as 1-2-3. We offer assistance in installing QuickBooks software on your stand-alone computer or in a network environment in single- or multi-user mode. In this way, we assure that your overall workflow is seamless.
   
   
2. Set Up. QuickBooks setup couldn’t be easier. We work with both newbies and experienced QuickBooks users to setup and maintain their software. Inadequate setup can result in limiting your ability to generate, track and report important financial information.
   
   If you or your employees have never used the program before, we assist with initial setup, including EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, and Banking and Reports. If you are an experienced user, we can help you manage your business more efficiently and increase productivity by improving your current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup. We also provide accounting and payroll assistance.
   
   
3. Training. We provide professional QuickBooks training without you ever having to leave your office. Our team will personally train you and your staff to use QuickBooks! We can do this either one-on-one or with several individuals in your organization at your company's location.
   
   
4. Review. Business owners often don’t have the time or manpower to oversee the review of each and every transaction. Mark S. Freedman, CPA, Inc. provides this added service, giving your accounting and payroll transactions an expert review.

This review ensures that you receive timely, relevant and reliable financial information. Our team will inform you of corrections, adjustments or reclassifications that should be made to ensure your business’s financial information accurately reflects the financial condition of your business. Although accounting and payroll reviews may be conducted at any time, performing monthly reviews will provide you with the most current heath report on your business.

How you structure your business entity can have an enormous impact on your taxes and other liabilities. Is your business a sole proprietorship, partnership, Limited Liability Company or an S or C Corporation?

Mark S. Freedman, CPA, Inc. guides you through the process, helping you choose an entity, file the appropriate paperwork and later, as your business changes, restructure, if advantageous. We’ll review the tax advantages and disadvantages, possible legal implications, the flexibility it offers to your business and the costs involved.

When does it make sense to become a corporation or Limited Liability Company (LLC)? It may make sense if you own a business and have personal wealth that could be lost in a lawsuit or a lien against the company. Having either of these designations protects your personal monies and property from being seized. Your business and your personal wealth are in a sense "divorced" from one another.

It can also save you in taxes. Business owners who incorporate and make a special election (S Corporation) can save up to $10,000 in Social Security taxes. Multiple owners in an LLC can allocate profit, losses and ownership in varying percentages. To find out how your business might benefit from becoming a corporation or an LLC, contact the Office of Mark S. Freedman, CPA, Inc.

We understand that you probably don’t view a CPA firm as a source of computer consulting knowledge. However, since we work with many of the industry’s cutting-edge software programs and have had to upgrade our systems to run these programs, we have a good understanding of how it can all work to your advantage.

Our team at Mark S. Freedman, CPA, Inc. can support you in choosing and implementing new hardware or network systems, auditing your system competencies and gauging your upgrade needs. By determining what programs and hardware will work best with your business complexities, we can improve your system's performance while staying within your budget.

The ability to improve a company's liquidity, reduce costs and increase profitability all result from good cash flow. As a business owner, it’s important for you to understand your financials, such as operating costs, investments, and break-even point.

Mark S. Freedman, CPA, Inc. has helped many companies become profitable over the years. We begin by focusing on maintaining optimal cash flow levels by keeping track of your income sources and expenditures. To make sure you remain focused on your goal, we help analyze your spending, and re-balance your budget and debts for an optimal cash flow to support your business's success. If there are any major changes to your business after these tasks have been performed, we revisit our suggestions and amend them to maintain your optimal operating level. With Mark S. Freedman, CPA, Inc. at your side, you will not only know exactly where you are going but how to get there.

If you have employees, you know how much time you spend just processing payroll. You’ve probably thought of having an outside company take this task over for you, but aren’t sure who to trust. Should you use online service or a nationally recognized firm? Our experience at Mark S. Freedman, CPA, Inc. has been that many small businesses prefer to work with an accountancy firm in their area that offers this service, one that is familiar with their industry and their business.

We help you reduce the time you spend on your payroll. Our team will develop and implement a computerized payroll system that will facilitate processing, timely payments and preparation of tax returns.

Any CPA will tell you that business valuations are not just for selling and buying a business. They come into play in estate planning and compliance, divorce matters, family limited partnerships, mergers and Employee Stock Ownership Plans (ESOPs). The valuations themselves are based on a multitude of variables.

At Mark S. Freedman, CPA, Inc. we carefully analyze your business and perform due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Having helped many clients successfully structure and negotiate their business dealings for years now, we know what to do and when to do it.

With our expert advice, you can make the right business decisions for your business for optimum success.

We understand that no one can accurately predict the future, but that doesn’t mean you shouldn’t plan for it. We’ll meet with you throughout the year to gain a better understanding of your business. This allows us to calculate more accurately your business’s financial projections and gives you the ability to tweak your business plan to accommodate any new findings.

Consistently updating these financial forecasts will help you avoid any unnecessary debt or pull back on your spending or investments. At Mark S. Freedman, we stay on top of the market trends so that your business can prepare for what is coming your way.

Accurate record-keeping is essential to a successful business yet can also be complicated and time-consuming. Mark S. Freedman, CPA, Inc., can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

The professionals at Mark S. Freedman, CPA, Inc. provide assistance in sorting out the plethora of options available for debt management and financing—whether it’s a personal or business situation. We can help lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Stop procrastinating and call the debt and finance experts at Mark S. Freedman, CPA, Inc.